Nuformix (LON:NFX) Trading 14.7% Higher – Here’s What Happened

Nuformix plc (LON:NFX) shot up 14.7% on Tuesday . The company traded as high as GBX 0.11 ($0.00) and last traded at GBX 0.11 ($0.00). 14,405,991 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 52,258,316 shares. The stock had previously closed at GBX 0.10 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group began coverage on Nuformix in a report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.79) price objective for the company.

Nuformix Price Performance

The firm has a market capitalization of £1.34 million, a price-to-earnings ratio of -3.31 and a beta of 1.22. The business’s 50 day moving average price is GBX 0.09 and its 200-day moving average price is GBX 0.07.

Nuformix (LON:NFX) last released its earnings results on Wednesday, January 29th. The company reported GBX (0.46) (($0.01)) earnings per share (EPS) for the quarter.

About Nuformix

Nuformix plc operates in the field of pharmaceutical development for treating fibrosis and oncology through drug repurposing in the United Kingdom. It offers NXP001, which has completed Phase 1 for use in oncology supportive care. The company is also developing NXP004, a novel form of Olaparib, which is in the IP generation phase for treating oncology; and NXP002 that is in pre-clinical stage for the treatment of idiopathic pulmonary fibrosis.